Hong Kong’s monetary authority raised its base rate for the eleventh time in 17 months, increasing the cost of funds by 25 basis points to near 16-year highs, following a similar hike by the US Federal Reserve.

Hong Kong’s monetary authority raised its base rate for the eleventh time in 17 months, increasing the cost of funds by 25 basis points to near 16-year highs, following a similar hike by the US Federal Reserve.